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Paul Krugman: "We Should Kick The Can Down The Road. It’s The Responsible Thing To Do"

Tyler Durden's picture




 

The below article, recreated in its grotesque entirety, is a real, serious Op-Ed written by a supposedly real, non page-view trolling, Nobel-prize winning economist, in a serious paper, the New York Times. It can be classified with one word: jaw-dropping.

We can only hope that some time in the next five years, when the global economy is in ashes following the implosion of the final central bank bubble, that the US department of injustice will prosecute authors of such drivel (and all those sell-side analysts who have had Buy recommendations in the 2009-2013 period) with the same ferocity it has demonstrated toward those US-downgrading rating agencies, which are now supposed to be solely accountable for the Second Great Depression and the $30 trillion or so in misallocated capital in the past five years.

Kick That Can

By Paul Krugman

John Boehner, the speaker of the House, claims to be exasperated. “At some point, Washington has to deal with its spending problem,” he said Wednesday. “I’ve watched them kick this can down the road for 22 years since I’ve been here. I’ve had enough of it. It’s time to act.”

Actually, Mr. Boehner needs to refresh his memory. During the first decade of his time in Congress, the U.S. government was doing just fine on the fiscal front. In particular, the ratio of federal debt to G.D.P. was a third lower when Bill Clinton left office than it was when he came in. It was only when George W. Bush arrived and squandered the Clinton surplus on tax cuts and unfunded wars that the budget outlook began deteriorating again.

But that’s a secondary issue. The key point is this: While it’s true that we will eventually need some combination of revenue increases and spending cuts to rein in the growth of U.S. government debt, now is very much not the time to act. Given the state we’re in, it would be irresponsible and destructive not to kick that can down the road.

Start with a basic point: Slashing government spending destroys jobs and causes the economy to shrink.

This really isn’t a debatable proposition at this point. The contractionary effects of fiscal austerity have been demonstrated by study after study and overwhelmingly confirmed by recent experience — for example, by the severe and continuing slump in Ireland, which was for a while touted as a shining example of responsible policy, or by the way the Cameron government’s turn to austerity derailed recovery in Britain.

Even Republicans admit, albeit selectively, that spending cuts hurt employment. Thus John McCain warned earlier this week that the defense cuts scheduled to happen under the budget sequester would cause the loss of a million jobs. It’s true that Republicans often seem to believe in “weaponized Keynesianism,” a doctrine under which military spending, and only military spending, creates jobs. But that is, of course, nonsense. By talking about job losses from defense cuts, the G.O.P. has already conceded the principle of the thing.

Still, won’t spending cuts (or tax increases) cost jobs whenever they take place, so we might as well bite the bullet now? The answer is no — given the state of our economy, this is a uniquely bad time for austerity.

One way to see this is to compare today’s economic situation with the environment prevailing during an earlier round of defense cuts: the big winding down of military spending in the late 1980s and early 1990s, following the end of the cold war. Those spending cuts destroyed jobs, too, with especially severe consequences in places like southern California that relied heavily on defense contracts. At the national level, however, the effects were softened by monetary policy: the Federal Reserve cut interest rates more or less in tandem with the spending cuts, helping to boost private spending and minimize the overall adverse effect.

Today, by contrast, we’re still living in the aftermath of the worst financial crisis since the Great Depression, and the Fed, in its effort to fight the slump, has already cut interest rates as far as it can — basically to zero. So the Fed can’t blunt the job-destroying effects of spending cuts, which would hit with full force.

The point, again, is that now is very much not the time to act; fiscal austerity should wait until the economy has recovered, and the Fed can once again cushion the impact.

But aren’t we facing a fiscal crisis? No, not at all. The federal government can borrow more cheaply than at almost any point in history, and medium-term forecasts, like the 10-year projections released Tuesday by the Congressional Budget Office, are distinctly not alarming. Yes, there’s a long-term fiscal problem, but it’s not urgent that we resolve that long-term problem right now. The alleged fiscal crisis exists only in the minds of Beltway insiders.

Still, even if we should put off spending cuts for now, wouldn’t it be a good thing if our politicians could simultaneously agree on a long-term fiscal plan? Indeed, it would. It would also be a good thing if we had peace on earth and universal marital fidelity. In the real world, Republican senators are saying that the situation is desperate — but not desperate enough to justify even a penny in additional taxes. Do these sound like men ready and willing to reach a grand fiscal bargain?

Realistically, we’re not going to resolve our long-run fiscal issues any time soon, which is O.K. — not ideal, but nothing terrible will happen if we don’t fix everything this year. Meanwhile, we face the imminent threat of severe economic damage from short-term spending cuts.

So we should avoid that damage by kicking the can down the road. It’s the responsible thing to do.

 

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Sat, 02/09/2013 - 14:20 | 3228867 IridiumRebel
IridiumRebel's picture

Bring him here for debate and lets verbally kick his can from the awesomeness of the posters here who would send him packing!

Sat, 02/09/2013 - 14:25 | 3228879 King_of_simpletons
King_of_simpletons's picture

Insane and Satanic

Sat, 02/09/2013 - 14:49 | 3228934 Muppet Pimp
Muppet Pimp's picture

A lttle pain now or a lot of pain later?  A knee scrape now or a leg amputation later? Time to take our medicine.  Bring it.

Krugman wants it to get so bad we have EU style riots in our cities when the moochers find out they were lied to.  Lets nip this thing in the bud and get back to being Americans.

Sat, 02/09/2013 - 15:12 | 3228983 francis_sawyer
francis_sawyer's picture

People... Keep reminding yourself that Krugman is simply a 'treasonous non-human' [nothing more ~ nothing less]...

~~~

http://www.zerohedge.com/news/2013-02-09/after-freezing-prices-argentina-bans-all-advertising#comment-3228823

~~~

Strikingly remarkable how many 'treasonous non-humans' have popped up since 1913 [& were largely involved in BULLDOZING 1913 into reality in the first place]... The world is full of quirky suprises...

Sat, 02/09/2013 - 15:20 | 3229011 a growing concern
a growing concern's picture

What if Krugman is a sly conservative who's just been portraying a ridiculous caricature to troll people all this time?  One day he'll go on TV and slap his knee and say he was just bullshitting us for the past several decades.  That'll piss off those Nobel assholes for sure.

Sat, 02/09/2013 - 15:24 | 3229023 HoofHearted
HoofHearted's picture

I would like to kick Krugman down the road...

Sat, 02/09/2013 - 15:32 | 3229036 tsx500
tsx500's picture

Krugman wouldn't know responsibility if it came up and kicked him in the head  !

Sat, 02/09/2013 - 16:19 | 3229126 francis_sawyer
francis_sawyer's picture

 "Realistically, we’re not going to resolve our long-run fiscal issues any time soon, which is O.K. — not ideal, but nothing terrible will happen if we don’t fix everything this year. Meanwhile, we face the imminent threat of severe economic damage from short-term spending cuts...

So we should avoid that damage by kicking the can down the road. It’s the responsible thing to do..."

~~~

Translation: I'm a goddamned priviledged ass mother fucking JEW sitting in an ivory tower that wouldn't know a ledger from a fucking garden hoe...

Instead ~ all I know how to do is to come up with candy ass motives to keep the jew motherfucking paper ponzi going for as long as possible so I can continue to accrue champagne, caviar, & gefilte fish to my dinner table [on the backs of all the "pigs" (who ACTUALLY WORK) out there] until they put me in the grave... If I happen to live long enough, then your KIDS will have to sweat for me too...

It's my birthright because I count myself amongst THE CHOSEN... The rest of you can just fuck off because my TRIBE will back me up on this...

Sat, 02/09/2013 - 16:36 | 3229184 Tinky
Tinky's picture

It's a shame that your useful points are so often degraded and/or obscured by the fog of hysterical anti-semetism.

Sat, 02/09/2013 - 16:49 | 3229207 francis_sawyer
francis_sawyer's picture

It's a shame that so many people, [besides not knowing how to spell 'antisemitism'], have ZERO grasp of what it's all about or WHY [or by WHOM] the term came into use in the first place...

Sat, 02/09/2013 - 17:37 | 3229287 TuesdayBen
TuesdayBen's picture

The reason Krugman looks deranged is that Krugman is deranged.

Sat, 02/09/2013 - 18:40 | 3229410 Richard Chesler
Richard Chesler's picture

"I refuse to grow up" - Paul Krugman.

Fucking idiot.

 

Sat, 02/09/2013 - 19:53 | 3229536 Texas Ginslinger
Texas Ginslinger's picture

He's obviously been eating horse meat for a very long time...

Sat, 02/09/2013 - 21:30 | 3229685 Thomas
Thomas's picture

He's a total boob who had few friends as a kid.

Sat, 02/09/2013 - 21:54 | 3229707 Divided States ...
Divided States of America's picture

If you happen to be walking down a street with your buds and you bump into the 'venerable' Paul Krugman, this is what should be going out of any sane person's mind.

"We Should Kick the Shit out of him. It's the Responsible Thing to Do"

Sun, 02/10/2013 - 00:17 | 3229857 EscapingProgress
EscapingProgress's picture

Krugman is a political hack, not an economist.

Sun, 02/10/2013 - 00:47 | 3229927 jeff montanye
jeff montanye's picture

well, it would have been better if there had not been a ten trillion dollar debt already when the crisis struck in 2008, no?  then we'd have a six trillion dollar debt now instead of a sixteen trillion dollar one.

(not spent on the right things and hardly any banksters in jail but that's another story)

save in times of plenty, spend in times of famine.  watchwords of the competent bronze age prince.

Sun, 02/10/2013 - 18:13 | 3231346 FMR Bankster
FMR Bankster's picture

Kick that dwarf in the balls.

Sat, 02/09/2013 - 18:44 | 3229415 Tinky
Tinky's picture

Yes, I misspelled the word. And, of course, you know full well what the broad, accepted understaning of the expression is.

So, to summarize the exchange, I misspelled a word, and you are a blatant anti-semite whose legitimate expressed views are degraded as a result.

Sat, 02/09/2013 - 18:53 | 3229429 francis_sawyer
francis_sawyer's picture

A 'caste system' [which regards themselves as CHOSEN ONES], are the ultimate 'DE-GRADERS' of society at large...

Sat, 02/09/2013 - 21:41 | 3229699 Tinky
Tinky's picture

Just as you absurdly paint all of those of one faith with a broad brush, you also utterly fail to consider that "chosen ones" means very different things to all Jews. Inconveniently for you, the vast majority do not consider it to be some kind of license for special privilege (as you imply), but rather as additional responsibilities.

I'm beginning to suspect that your family's original name was Moronski.

Sat, 02/09/2013 - 21:58 | 3229710 Divided States ...
Divided States of America's picture

If it talks like a Krugman and prints like a Bernanke, by god, its definitely a JEW!

Sat, 02/09/2013 - 23:04 | 3229777 john39
john39's picture

Doesn't really matter how one interprets being 'chosen', either benefit or burden the result is seeing your group as somehow different than others. This simple lie has been the source of untold suffering for so called Jews and non Jews alike. A bit of basic common sense would reveal the origin and purpose of the lie... Mind control.

Sun, 02/10/2013 - 10:19 | 3230369 TWSceptic
TWSceptic's picture

Antisemitism, anti-semitism or anti-Semitism are all accepted ways to spell the word, so he was wrong. I also agree the valid views on this site are degraded by the antisemitism.

Sun, 02/10/2013 - 01:31 | 3230015 MedTechEntrepreneur
MedTechEntrepreneur's picture

Poor Sawyer...he hates getting outsmarted by the Jooo's so he hates.  It's a lot like the Great White Hope, getting his ass kicked yet again by the black man...so lets call them Nigga!

Sun, 02/10/2013 - 03:04 | 3230121 Raymond Reason
Raymond Reason's picture

If you're equating 'smart' with cunning, the Joos probably have Francis beat.  My guess is Francis doesn't aspire to be cunning or sly, on the contrary, he is willing to voice his honest perceptions, which of course raises the ire of those related to the cunning ones. 

Good for you, Francis, for not being shamed away from your perceptions. 

Sat, 02/09/2013 - 23:57 | 3229838 asteroids
asteroids's picture

Fucking selfish coward. Willing to fuck his kids and grandkids so he can live an easy life. Instread of standing up like a man and doing what needs to be done to fix the economy. Sure it'll means hard years and sacrifice, but, like generations before him, he'll take the easy way out. What a pig.

Sun, 02/10/2013 - 18:58 | 3231435 fockewulf190
fockewulf190's picture

It's like saying "Yeah, we're addicted to fiscal meth, but we aren't at the point yet of clawing our faces off, and the dopamine is doing a great job...and we need those fiscal meth lab jobs to keep our economy going! One day we will all turn into mindless zombies, but we can find new industries in the booming rehab and crack house restoration markets and enjoy the new cyclical upturn. Nevermind that giant pile of cadavers, thats just birth-death. Nothing to see here.

Sat, 02/09/2013 - 17:21 | 3229271 unrulian
unrulian's picture

Aww common...there's no way an educated human can be that fucked....that haaassss to be sarcasm....i think krugman is MDB...that's the only way it can make sense.

Sat, 02/09/2013 - 20:54 | 3229627 Cap Matifou
Cap Matifou's picture

Krugman exactly knows what our main problem is, and he chooses to write shitty articles for the peasants instead of doing something about it. His advice to his fellow graduate, about how to reach great fame in this shitpile we call economics:

Didn't they tell you, reform whatever you want, just never touch the money system!

http://youtu.be/EooatFacSwE?t=22m8s

Sun, 02/10/2013 - 02:44 | 3230105 CompassionateFascist
CompassionateFascist's picture

tr: don't touch the Rothschilds. Even Hitler got that message: Redshields all over Europe, 1940-45. Not one got stood up and shot or shoved into a GC. Not one. Quite a coinkydink. 

Sun, 02/10/2013 - 13:58 | 3230825 A Nanny Moose
A Nanny Moose's picture

That would be an insult to cans.

http://www.youtube.com/watch?v=Tcwz8-EfFYE

By Kruggybear's logic $16T in debt should have prevented all recessions since Andrew Jackson.

Sat, 02/09/2013 - 15:41 | 3229052 Skateboarder
Skateboarder's picture

ATTN: Can Kicking to debut at the 2016 Olympics. Tryouts start Jan 2016 at top three business schools of your country. MBA required to participate, BAR certification preferred.
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This message brought to you by Central Banks, LLP

Sat, 02/09/2013 - 17:47 | 3229305 TuesdayBen
TuesdayBen's picture

It will be a sweep for the USSA - Obama (doing a black power raised fist to try and look like an African American), Bernanke, and Krugman on the medals stand. They all opt for non-precious-metal medals in a show of Solidarity. President Paul denies all re-entry, declares them enemies of the state. They are taken in by Zimbabwe.

Sat, 02/09/2013 - 16:26 | 3229157 juslen
juslen's picture

You mean one of those nationalist conservatives that wants to slash taxes but refuses to cut spending? I like to call those types of conservatives idiots.

Sat, 02/09/2013 - 17:24 | 3229273 Matt
Matt's picture

But what if it were possible to cut taxes, increase spending, and reduce the national debt?

"Today, by contrast, we’re still living in the aftermath of the worst financial crisis since the Great Depression, and the Fed, in its effort to fight the slump, has already cut interest rates as far as it can — basically to zero. So the Fed can’t blunt the job-destroying effects of spending cuts, which would hit with full force."

It seems Mr Krugman is unaware of NEGATIVE INTEREST RATES. The Fed could use QE to turn interest rates on US Debt negative. The Treasury could isue more debt at negative rates, reduce tax rates, and increase spending.

But wait! I know you're thinking, "wouldn't the federal reserve lose money buying treasuries at negative rates and holding them to maturity?

Easy. As the supply of USD increases, it's value in gold decreases (or, to put it another way, the price of gold in dollars increases). The Federal Reserve would simply need to buy gold at the same time as it buys government bonds at negative rates. The increase in the price of the gold will balance out the losses from earning negative interest on the treasuries.  

Sun, 02/10/2013 - 02:47 | 3230107 CompassionateFascist
CompassionateFascist's picture

When will the Jews stop their incessant Ponzi-scheming?

Sun, 02/10/2013 - 13:49 | 3230800 abettertomorrow
abettertomorrow's picture

When the chicken takes a piss!

Sat, 02/09/2013 - 15:05 | 3228987 eatthebanksters
eatthebanksters's picture

Krugman is a socialist with a socialist agenda...until he and his friends burn down our system he cannot have his perfect world...he wants to destroy anyone with wealth without imploding the system...if we fix the problems with the discipline that runs counter to his core premise, it will serve to strengthen our capitalist system...not what this asshole wants. He is further proof (along with Obama and Gore) that the Nobel Prize is awarded to meaningless bigots and is a joke.

Sat, 02/09/2013 - 15:47 | 3229012 Fredo Corleone
Fredo Corleone's picture

A similarly opprobrious character from the annals of history bears a strong resemblance to the Nobel Laureate:

Grigori Rasputin

http://media.npr.org/assets/img/2012/02/07/rasputin_pt1_custom-dbac43254...

Sat, 02/09/2013 - 16:14 | 3229116 EINSILVERGUY
EINSILVERGUY's picture

The difference is that Rasputon could take a punch, and a few shots, poison and stabbings.

Krugman would fold the minute you pulled on his beard

 

Sat, 02/09/2013 - 17:12 | 3229257 caconhma
caconhma's picture

People, stop usingnames you know nothing about.

Rasputon was a good man who tried to keep the Russian Empire from the WWI. This is exactly why he was murdered by British agents.

Sat, 02/09/2013 - 16:20 | 3229135 Peter Pan
Peter Pan's picture

It appears that Krugman was an only child. Thankfully his parents exercised damage control although it came a little late.

Sat, 02/09/2013 - 17:07 | 3229248 caconhma
caconhma's picture

Here we are going again: Great Krugman.

Let me repeat one time more: Krugman never got a real Nobel Prize but instead he got a "look alike Nobel Prize" rewarded by a Swedish Central bank. So, they, Central bankers, are paying and he is playing their favorite music.

For God sake, why are we discussing Krugram instead of "Lady Gaga"? At least, we know she is an ugly pervert. As for Krugman, we don't know whether he is sleeping with his mother or not but his religion promotes filth and dishonesty.

 

Sun, 02/10/2013 - 06:49 | 3230225 WhiteNight123129
WhiteNight123129's picture

Here is teh deal boys and girls.

Austrians and Keynesians agree on one thing, when you have too much bad debt to GDP, get rid of it.

Austrian method is wack bad credit and restore credit to base money ratio.WACK THE NUMERATOR

Problem is wealth effect and for a while people do not spend their base money (Gold).

Keynesian is wack currency by printing a lot of money and shrink credit by EXPANDING THE DENOMINATOR.

Either way debt to base money is shrunk.

There is a tricky part in teh Keynesian remedy, which is totally counter intuitive, as you print a lot of fuel logs (paper money) you need the Gov to throw a match in the newly printed currency so that the economic fire burns.

Once inflation is humming along nicely and people are therefore force to spend the newly printed money, Gov can reap the benefits of higher nominal tax revenues. If it costs 20% to buy a cabbage, nominal sales taxes rise 20%. And VOILA. Inflate away explained.

Rising long bond yields also means higher nominal taxes. That is where some are wrong they think that the long bond yield rises without inflation and without higher nominal taxes.... Keynes is wicked but inflating away always works. Ah the holders of the currency get fucked. Who cares?

SHORT TREASURIES AND HOLD COMMODITIES BITCHEZ!!

Sun, 02/10/2013 - 11:26 | 3230434 Arrowflinger
Arrowflinger's picture

Exactly. In the red states the deceivers have fired up the notion of the so-called "fair" tax - a national sales tax. For middle class folks to buy into a 30% tax on services, including government services, and goods means compounding the inflation/monetization tax.

That was a great point and one that a lot of folks have missed.

Sat, 02/09/2013 - 16:12 | 3229111 ATM
ATM's picture

He's not a socialist, he's an Authoritarian. He wants nothing more than the total destruction of personal Liberty to be replaced by Centrally Planned Hell.

Fuck you Krugman. If I ever meet you face to face I will punch the shit out of your hairy little melon. 

Sat, 02/09/2013 - 16:13 | 3229114 NumberNone
NumberNone's picture

Krugman and his ilk have spent the last 40 years getting the US hooked on the free money equivalent of booze and drugs.  Now that we are realizing the habit is going the kill us, they are playing the role of the typical drug dealer they want to keep us hooked.  Can't let our death ruin all the fun they are having at our expense.  Fuck these guys.   

Sat, 02/09/2013 - 15:06 | 3228990 NemoDeNovo
NemoDeNovo's picture

Krugman is INSANE in his own Membrane, but hey why not Party like its 1999!  Right?

 

http://youtu.be/RijB8wnJCN0

Sat, 02/09/2013 - 16:04 | 3229091 Handyman
Handyman's picture

"A little pain now or a lot of pain later?  A knee scrape now or a leg amputation later"

I think we're past that. At this point it's more like "Agony and chaos now or agony and chaos later" either way it's agony chaos. At the huge risk of getting flamed here, is it fair to ask why not? It's more time to get ready.

Many on this site have commented that they have benefited by the cankick in order to prepare. I know I'll be better off if it comes in 3 years instead of this fall. If it's to the point where' it's a guaranteed bloodbath, I'll take 2-3 years from now thanks.

Sat, 02/09/2013 - 16:16 | 3229122 ATM
ATM's picture

I think it could still be a managed default with plenty of pain, agony, and chaos if done now.

When it does collapse in 5 - 10 yrs it will be death and destruction. That's what devils like Krugman want. They want the slate to be wiped completely clean of personal liberty and a Republican form of government so that it can once and for all be vilified and stigmatized never to return. 

That is what I see as the goal. Kill this crazy idea that people have souls and personal rights. Replac it with the greater good where fuckwads like Krugman decide what is best for everyone. Because, you know, he's sooo smart!

Sun, 02/10/2013 - 02:51 | 3230113 CompassionateFascist
CompassionateFascist's picture

The Jews have outsmarted themselves many a time in their somewhat checkered 3,000 years. And they're about to do it again. 

Sat, 02/09/2013 - 16:35 | 3229180 juslen
juslen's picture

I suggest you study Austrian Business Cycle Theory. The longer we wait the bigger the crisis will be. So yes, it may benefit you to have a few more years to prepare but if everyone was doing the same thing as you there wouldn't be more time to prepare. We would be exeriencing intense pain already. The problem is, the longer we wait the bigger the bond, debt, and stock market bubble will inflate and when it pops you will see masive economic destruction if they do the right thing and let it deflate and even more destruction if they do the wrong thing and inflate. It's will be the difference between savers being able to weather the storm and savers getting whiped out through hyperinflation. Now just imagien what will happen to people who don't have a pot to piss in, they are going to suffer either way. Suffering now would mean less severe casualties, suffering latter will mean more sever casualties. The longer we wait the greater the number of people there will be that are properly prepared, but the people who are not will have even more problems. So from a moral perspective, we need to end it now because if we wait, anyone who prepared for 2-3 extra years will be the targets of desperate individuals who have nothing left to lose.

Sat, 02/09/2013 - 15:44 | 3229057 xtop23
xtop23's picture

Absolutely Paul. Lets keep kicking the can so when the inevitable unraveling occurs we can have a 600 megaton financial explosion rather than 100. Go big or go home, right buddy? Drink drain cleaner already ya frigging hack.

Sat, 02/09/2013 - 23:15 | 3229791 bobthehorse
bobthehorse's picture

Paul Krugman is a sexy boy.

He gets all the girls.

Meow.

http://www.angrysinner.blogspot.kr/2013/02/yesterday-my-family-went-to-public.html

Sat, 02/09/2013 - 14:27 | 3228883 Silver Bug
Silver Bug's picture

WHAT IS WRONG with this guy??! He can't be this dumb, or am I giving him too much credit?

 

http://schiffblog.blogspot.ca/

Sat, 02/09/2013 - 14:38 | 3228910 Cyrano de Bivouac
Cyrano de Bivouac's picture

What's really scary is that he won a Nobel Prize.

Sat, 02/09/2013 - 15:21 | 3229014 FEDbuster
FEDbuster's picture

So did Obama (for Peace).  The Nobel Prize isn't what it used to be.

Sat, 02/09/2013 - 15:52 | 3229072 Skateboarder
Skateboarder's picture

Sure it is. It's just the categories for prize-giving have changed a bit... Replace 'peace' with 'war,' 'economics' with 'global market rigging,' etc.

Sat, 02/09/2013 - 16:10 | 3229089 FEDbuster
FEDbuster's picture

I propose that Zerohedge start an annual "Charles Ponzi Awards for Economics and Banking".  The voting shall be done through an online poll of registered users in several key categories.  The prize shall be a gold plated tungsten medal with Charles Ponzi's image on the front and Zerohedge logo on the back.  In addition to the medal, the winners shall receive a $100 trillion dollar Zimbabwe banknote.  Max Keiser could host the awards show that could be aired on RT and posted to Youtube.

Any additional thoughts or suggestions?

Sat, 02/09/2013 - 16:12 | 3229109 Totentänzerlied
Totentänzerlied's picture

Execute the winners.

Sat, 02/09/2013 - 16:18 | 3229131 ATM
ATM's picture

Krugman isn't stupid. What he's doing is part of the plan!

And the Nobel communists are part of the deal as is the UN and so many ther NGO's. In fact I'm not sure there is one that isn't part of the scam.

Sat, 02/09/2013 - 16:50 | 3229210 FEDbuster
FEDbuster's picture

Say Krugman wins a Zerohedge Ponzi Award.  He could then be introduced on TV as Dr. Paul Krugman, Nobel and Ponzi Prize winning economist....

Sat, 02/09/2013 - 16:17 | 3229127 MustacheCashStash
MustacheCashStash's picture

I think it should be called the William F. Miller Award for Monetary Excellence.  Have to make it a little more obscure.  Maybe those that win in their respective categories might even show up to accept said award.  We can only dream....

Sat, 02/09/2013 - 16:35 | 3229165 FEDbuster
FEDbuster's picture

I like "The Ponzis", in the same spirit as "The Razzies" are to Hollywood.  Perhaps some of the winners would show up to claim their prize, you never know with these egos?  If not, life sized cutouts with Max doing a bio and summary of why they were nominated prior to announcing the winners.  Which accounting firm would be used to certify the results?  Could we get some hot Wall St. strippers to bring Max the envelopes, you know to make it entertaining?  

Sat, 02/09/2013 - 23:52 | 3229832 Turin Turambar
Turin Turambar's picture

I prefer The Richard Cranium Award for Economic Fraud. Krugman can be immortalized appropriately with a special Lifetime Achievement Award.

Sun, 02/10/2013 - 00:28 | 3229875 jimijon
jimijon's picture

I have started a Facebook page you could like (nominate Charles Ponzi for a Nobel):

http://www.facebook.com/CharlesPonziForANobel?ref=hl

cheers

Sat, 02/09/2013 - 14:37 | 3228911 mightycluck
mightycluck's picture

This guy puts it into perspective. Krugman is following the Argentina and Venezuela socialist model that kills. He is wealthy. What does he care?

http://confoundedinterest.wordpress.com/2013/02/09/devaluation-nations-a...

Sat, 02/09/2013 - 15:29 | 3229033 Schmuck Raker
Schmuck Raker's picture

Snakeeyes wasn't drawing enough clicks to his blog, so he got you to shill for him?

[You guys are giving GMU a bad name.]

Sat, 02/09/2013 - 15:12 | 3229000 Blankenstein
Blankenstein's picture

When I see PhD economists trying to run real-world operations, I can't help but think of LTCM.  Things started veering off course and they stepped on the gas pedal instead of pulling back and reexamining their strategies, thus greatly increasing their losses.   I hope we aren't going the same route, but it seems like we are being lead to calimity by a bunch of eggheads in the dismal science. 

Sat, 02/09/2013 - 15:23 | 3229020 Cardinal Fang
Sat, 02/09/2013 - 16:21 | 3229138 optimator
optimator's picture

If they pulled back they wouldn't have been bailed out!

Sat, 02/09/2013 - 15:22 | 3229015 Missiondweller
Missiondweller's picture

He's been more politician than economist for years now. He's a useful idiot of the left.

Sat, 02/09/2013 - 16:19 | 3229133 optimator
optimator's picture

He's not as stupid as he looks.  Nobody could be that stupid.

Sat, 02/09/2013 - 14:56 | 3228966 Laser Shark
Laser Shark's picture

Why not just have him debate himself?

Paul Krugman in 2003: Don't Look Down

What will that plunge look like? It will certainly involve a sharp fall in the dollar and a sharp rise in interest rates. In the worst-case scenario, the government's access to borrowing will be cut off, creating a cash crisis that throws the nation into chaos.

Sat, 02/09/2013 - 15:57 | 3229083 disabledvet
disabledvet's picture

"which is a good thing now and what we want." the Kroogman is only debating himself now. This is "esoterica" in the extreme. What can are we kicking again? The one that says "don't pay for anything" thus "having to pay for everything"? I mean anytime he wants to create an Army or Navy from scratch using his policies and given our current economic reality i say "go right ahead." We will ignore the current war as an existential reality lest it "tax" him too much. Too much to ask? Too little? Count me as confused...

Sat, 02/09/2013 - 16:24 | 3229149 ATM
ATM's picture

"Lehman Brothers has a mathematical model known as Damocles that it calls ''an early warning system to identify the likelihood of countries entering into financial crises."

Too bad they didnt run the model on themselves!

Sat, 02/09/2013 - 18:33 | 3229393 Jacque Itch
Jacque Itch's picture

Textbook Krugman.  Write an article in 2003 saying how bad the spending and deficits are with a Republican Prez.  Then when your boy is running the country everything is fine... just keep can kicking. 

Sat, 02/09/2013 - 16:26 | 3229156 Stoploss
Stoploss's picture

===========================AND FUCK PAUL KRUGMAN========================

Sat, 02/09/2013 - 17:55 | 3229327 Remington IV
Remington IV's picture

Krugman's clearly insane

Sat, 02/09/2013 - 18:13 | 3229354 IridiumRebel
IridiumRebel's picture

Who the fuck redarrowed? What? You don't want the guy to fucking debate? Fuck you. 

Sat, 02/09/2013 - 14:21 | 3228869 MelvilleSaysNo
MelvilleSaysNo's picture

Is 'jaw-dropping' one word, or two?

Sat, 02/09/2013 - 14:22 | 3228871 Clayton Bigsby
Clayton Bigsby's picture

Fuck you Krugman, and your bullshit nobel prize.  With two dicks.  Maybe even three.

Sat, 02/09/2013 - 14:24 | 3228873 rehypothecator
rehypothecator's picture

Irresponsibility: it's the responsible thing to do.  

Sat, 02/09/2013 - 14:24 | 3228874 williambanzai7
williambanzai7's picture

NATURALLY KRUGMAN (Trillion Dollar Dork)

Sat, 02/09/2013 - 14:29 | 3228889 Seasmoke
Seasmoke's picture

i hope thats a noose around the traitors neck

Sat, 02/09/2013 - 15:27 | 3229028 Svendblaaskaeg
Svendblaaskaeg's picture

Paul poop-eye Krugman: "I'll gladly kick the can forever for a hamburger today"

Sat, 02/09/2013 - 19:40 | 3229514 Just Ice
Just Ice's picture

what in the hell is that?  kill it before it multiplies

Sun, 02/10/2013 - 02:58 | 3230117 Parrotile
Parrotile's picture

Relocate organism to Wildfire Level 5, and prepare for nuclear device "sanitization"

Seeing as Dr Krugman seems to pose considerably more danger to the entire Planetary Economoy than the fictitious Andromeda organism . . . .

Sat, 02/09/2013 - 14:24 | 3228875 AnAnonymous
AnAnonymous's picture

That is the 'american' thing to do. And what will be done by the way.

Sat, 02/09/2013 - 14:51 | 3228954 prains
prains's picture

No AnAnlogous Anus the american thing to do is start a war on lies and deceit, break some windows and poof the MIC and infrastructure play generates huge profits.

Wait a minute they tried that in Iraq but Haliburton just took the pallets of money instead. Bleed down economics didn't work that time.

Maybe yu guys will be next on the list.

Sat, 02/09/2013 - 17:05 | 3229246 HurricaneSeason
HurricaneSeason's picture

They should have already had a war started, Mali ain't cutting it. Bolivia would be good. They have a military so it would be a fair fight for the next 20 years. They could blame it being drawn out on the mountains or something. Wars are always good for the economy, that's why deficits don't really matter. It's closer to home, so it should be cheaper.

Sat, 02/09/2013 - 22:19 | 3229733 NidStyles
NidStyles's picture

We were in Bolivia in the 80's and 90's so the sheep won't fall for that one.

Sat, 02/09/2013 - 14:25 | 3228877 Lord Of Finance
Lord Of Finance's picture

Darn YOU! Why did you have to show that picture? I wont be able to get any arousal for the remainder of Febuary.

Sat, 02/09/2013 - 14:26 | 3228880 imapopulistnow
imapopulistnow's picture

He is both right and wrong. 

He is correct that the real economy is still too small to go it alone without life support that needs to be reduced gradually, not all at once.  He is wrong in that he thinks government is the real economy.

Sat, 02/09/2013 - 15:12 | 3228891 Ham-bone
Ham-bone's picture

Sure, by all means continue to grow government spending as a % of the economy to avoid a "slow down".  And this will again be the answer tomorrow, and on and on.  Geez, wonder what that leads to? 

Long live Dr. Krugmans' land of the misconceptions, misinformation, propaganda, and "lie we will" when things get serious.  Apparently, things have been quite serious for quite some time now.

I would love to hear under what circumstances, under what UE levels or GDP or whatever metric Krugman likes that he would say is the right time to reduce deficit spending, reduce reliance on government, and let the economy fly under it's own power (ie, free market capitalism)...won't hold my breath on this reply.

Sat, 02/09/2013 - 15:59 | 3229086 imapopulistnow
imapopulistnow's picture

First of all, I agree with you that Krugman is an idiot.  But so to is Santelli and those who say "just let the markets clear and everything will be AOK".  You let the markets clear when you have a typical business cycle recession, but not when you are in an atypical depression.  We are in a depression.

 

Sat, 02/09/2013 - 16:24 | 3229147 Totentänzerlied
Totentänzerlied's picture

Wrong. Markets will clear one way or another. All the idiot fucking sycophant PhD. crowd is doing is ensuring, guaranteeing, and vouch-safing that the clearing will be as violent, destructive, and terrible as possible.

I am inclined to believe that statist eCONomists such as Krugman are, perhaps without even being aware of it, attempting to destroy what they perceive as and honestly believe to be an outdated, backward, sub-optimal political-economic system. They truly believe they know better, and can create a better system to replace it. It's is a thin line between intellectual, idealist, and ideologue. It's politic-economic sabotage, Fabian-style, and Keynesianism is its perfect cover.

Sat, 02/09/2013 - 17:41 | 3229303 HurricaneSeason
HurricaneSeason's picture

The atypical part is $250 a month, total,  for a Chinese worker's wages.  Giving away free houses and 10 year wars that should take 3 weeks and filling up the colleges helped keep the curtain pulled while the corporations got rich without even paying any taxes on their profits. Now it's time to pay the bill or repave all the roads again or build enough prisons to employ and incarcerate many millions and pretend nobody knew that that wouldn't work.

Sat, 02/09/2013 - 16:13 | 3229112 imapopulistnow
imapopulistnow's picture

I got one "up vote".  Indisputable evidence that Ben Benanke reads ZH!

Sat, 02/09/2013 - 14:36 | 3228881 Ham-bone
Ham-bone's picture

Phewwww...the present is never the time to take difficult choices, prioritizations...it will always be an easier, better time to do this in the undtermined "future" (wink, wink)

I'm off to vomit...

Sat, 02/09/2013 - 14:28 | 3228884 Yancey Ward
Yancey Ward's picture

Krugman won't stop advocating "kick-the-can" on the deficit until a Republican sits in the White House again.  Then his tune will change so fast it will make your head go spinning off into space.  The man is a hack.

Sat, 02/09/2013 - 14:36 | 3228909 AnAnonymous
AnAnonymous's picture

This man is an 'american'.

Sat, 02/09/2013 - 14:39 | 3228917 Colonel Klink
Colonel Klink's picture

This man is a 'traitor'.

 

Fixed it for you.

Sat, 02/09/2013 - 14:48 | 3228942 Ham-bone
Ham-bone's picture

'traitor'???  This man is saving today...by destroying tomorrow. 

Sat, 02/09/2013 - 14:55 | 3228965 prains
prains's picture

blood, sweat and tears aren't supposed to find the easiest path to travel, they're made from real human misery. Not once did Krugman talk about who benefits and who gets hurt by his ideas.

Sat, 02/09/2013 - 14:29 | 3228888 piceridu
piceridu's picture

Find the nearest Esso gas station....

Sat, 02/09/2013 - 14:30 | 3228892 yogibear
yogibear's picture

Krugman as the Fed chairman and Jack Jew would be a perfect combo to take the country's finances down much faster.

Marc Faber:

"The views of the Keynesians like Mr. Krugman is that the fiscal deficits are far too small. One of the problems of the crisis is that it was caused by government intervention with fiscal and monetary measures. Now they tells us we didn't intervene enough. If they really believe that they should go and live in North Korea where you have a communist system. There the government intervenes into every aspect of the economy. "

Sat, 02/09/2013 - 14:45 | 3228894 Colonel Klink
Colonel Klink's picture

There is no such REAL thing as the Nobel prize in economics.  Feel free to google it!

It's the

The Sveriges Riksbank Prize in Economic Sciences

 

It is sponsored by the worlds oldest central bank.  THERE'S the rub!!!

http://en.wikipedia.org/wiki/Sveriges_Riksbank

Funny he'd get a prize for supporting the system giving him the prize.

And for the record....GO FUCK YOURSELF KRUGMAN!

 

EDIT:  And while you're getting edumacated feel free to read about the founder of the oldest central bank:

http://en.wikipedia.org/wiki/Johan_Palmstruch

Must have been Ponzi's mentor!!  History sure does rhyme and the system of central banking sure hasn't changed it stripes.

Sat, 02/09/2013 - 15:19 | 3229009 Svendblaaskaeg
Svendblaaskaeg's picture

That link explains a lot - Thank You Sir!

http://en.wikipedia.org/wiki/Johan_Palmstruch

Sat, 02/09/2013 - 15:32 | 3229037 Five8Charlie
Five8Charlie's picture

Economics is NOT a science.

Sat, 02/09/2013 - 15:38 | 3229049 I am on to you
I am on to you's picture

Quite right,almost,his name was:Johan Witttmacher not Palmstruch,was Dutch,and lived in Riga,1600 something,and was given the right the form a bank,Stockholm Banco,which he by the way left in Fallencia 1668 ,and was  prisoned in Sweden, 1670.Died the following year

Sun, 02/10/2013 - 01:30 | 3230013 Colonel Klink
Colonel Klink's picture

Correct it was until he was inducted into "nobility".  Breaking it down into it's root components NOB ility.  The state of being a knob!

Sat, 02/09/2013 - 15:58 | 3229084 NumberNone
NumberNone's picture

In 1949 they gave the Nobel Prize to the guy that invented the lobotomy.  Not sure that I would classify winning one as any big deal.   

http://en.wikipedia.org/wiki/Lobotomy 

 

Sat, 02/09/2013 - 14:31 | 3228896 BlueCheeseBandit
BlueCheeseBandit's picture

I, for one, am glad for the article. Like his 2002 piece about how we should blow a housing bubble to get out of the slump, this creates another permanent record of Krugman's incompetence, and the general bankruptcy of Keynesianism, for the bond/currency crisis.

Just make sure to get him on record confirming he's serious so he can't claim this was a joke later.

Sat, 02/09/2013 - 14:31 | 3228897 Historicus
Historicus's picture

Sat, 02/09/2013 - 15:35 | 3229045 Schmuck Raker
Schmuck Raker's picture

+1 for brevity

Sat, 02/09/2013 - 15:55 | 3229080 Five8Charlie
Five8Charlie's picture

Speechless, I'd say...

Sat, 02/09/2013 - 14:32 | 3228898 Yellowhoard
Yellowhoard's picture

Krugman is missing a chance to become very wealthy.

All he needs to do is start a drug rehab clinic where users check in and are given all of the heroin and crack that they desire.

It would be wildly popular and very profitable.

Sat, 02/09/2013 - 14:33 | 3228901 Seasmoke
Seasmoke's picture

in Pauls world, tomorrow NEVER comes

Sat, 02/09/2013 - 14:35 | 3228904 earleflorida
earleflorida's picture

in 3... 2... 1... here comes the rebuttal post from ZH's own-- Dr. Paul Krugman

can't wait...

Sat, 02/09/2013 - 14:53 | 3228905 Ian56
Ian56's picture

Why Paul Krugman is 100% wrong and Nouriel Roubini is right 

 

http://ian56.blogspot.co.uk/2013/01/the-2tn-of-excess-bank-reserves-is.html

 

http://ian56.blogspot.co.uk/2013/01/a-global-economic-summary-why-paul.h...

 

And the ultimate result of too much government debt is of course the loss of the dollar as Global Reserve Currency and economic collapse in the US. 

China is already planning it. 

History writ large in front of our faces.

http://ian56.blogspot.co.uk/2012/02/greek-scenario-and-us.html

George Bush & Dick Cheney's diastrous legacy. 

We haven't seen a disaster of this magnitude hit the West since the Black Death in the 1300's when 30 to 40% of Europe's population were killed. 

http://ian56.blogspot.co.uk/2013/02/george-bush-dick-cheneys-disastrous....

 

Maybe Paul Krugman should spend 30 minutes listening to Dr Benjamin Carson. 

It might knock some sense into him, but I doubt it.

The look on Obama's face is priceless during the speech :)

http://ian56.blogspot.co.uk/2013/02/everybody-in-america-should-watch-th...

Sat, 02/09/2013 - 14:36 | 3228907 PUD
PUD's picture

By putting off chemotherapy one can avoid the awful symptoms of nausea and hair loss....the life threatening cancer can be dealt with in a responsible manner in a few years when you're feeling better about things.

Sat, 02/09/2013 - 16:27 | 3229159 Ham-bone
Ham-bone's picture

PUD - u said all that need be said in response to Kruger

Sat, 02/09/2013 - 14:37 | 3228912 Obama4Ever
Obama4Ever's picture

Even I'm starting to have doubts about Krugman's sanity.

Sat, 02/09/2013 - 14:38 | 3228913 Darth Rayne
Darth Rayne's picture

'I pity the fool'

Mr T

'He is a prick.'

Darth Rayne

 

Breaking windows is good for the economy. I would be happy to break all my windows by throwing Paul through them. Then Ben. Then whoever.

Sat, 02/09/2013 - 14:39 | 3228920 ISEEIT
ISEEIT's picture

This is truly how the progressives 'think'. I suspect that they actually believe this sort of nonsensical drivel. We know for certain however that were a republican to be president ( not to worry, they disgust me also) the progressives would be out in full retard glory demanding that the insanely irresponsible and dangerous fiscal madness of this despicable and morally reprehensible republican administration be halted immediately.

We had precisely this situation while bushy was prez. The rabid left could not scream loudly enough regarding the debt/deficits. Same as with civil liberties/human rights....recall the apoplectic fits of blind fury and unrestrained rage regarding waterboarding/torture?

These 'people' are truly not well.

Sat, 02/09/2013 - 15:04 | 3228982 Mark123
Mark123's picture

Why not give Krugman, all the staunch Democratic and Republican party members, wall street, the lawyers, and everyone else who believes this drivel some part of the country and build a really big wall around it and let them build their utopia and live with it.

 

Likely in about 2 years they would all starve to death, then we could reclaim the land and live in peace and prosperity.

Sat, 02/09/2013 - 14:40 | 3228921 linniepar
linniepar's picture

And if rates cannot be controlled? kablooey. Fuck you Krugboy!

Sat, 02/09/2013 - 14:40 | 3228922 The Gooch
The Gooch's picture

"Sales tax and death panels"

http://redalertpolitics.com/2013/02/07/krugman-death-panels-and-sales-taxes-is-how-we-do-this/

You go first, douche bag. I'll "assist".

Sat, 02/09/2013 - 14:41 | 3228923 hooligan2009
hooligan2009's picture

wonder if Krugman will do a counterfactual for these "facts"

http://www.forbes.com/sites/peterferrara/2013/02/07/the-worst-five-years...

its a good article, pity its on Forbes crappy website..sorry for that

Sat, 02/09/2013 - 14:41 | 3228925 LongSoupLine
LongSoupLine's picture

Krugman...someone seriously needs to put this stupid fucking Keynesian fucker into a fucking woodchipper.

 

FUcking asshole.  Fuck you Krugman and the New York Times.  Fucking liberal nation destroying pricks

Sat, 02/09/2013 - 14:50 | 3228933 Kaiser Sousa
Kaiser Sousa's picture

 

 

 

Sat, 02/09/2013 - 18:37 | 3229406 Jacque Itch
Jacque Itch's picture

I just had a vision of the movie "Fargo"

Sat, 02/09/2013 - 14:42 | 3228926 ISEEIT
ISEEIT's picture

I'm surprised he didn't somehow work the babysitting co-op into this little wonder of intellectual malfeasance.

Sat, 02/09/2013 - 14:43 | 3228927 Central Wanker
Central Wanker's picture

Whenever I feel hesitant to buy more gold and silver, I'll re-read this article.

Sat, 02/09/2013 - 14:47 | 3228930 Kelley
Kelley's picture

In Les Miz, the constable Javert says "The world is upside down."

In the old days, if a student or cub reporter turned in something like what Krugman wrote, the teacher or editor would hand the paper back with a low grade or in the case of the editor insist on a rewrite.

Today we give out Nobel Prizes to the biggest clowns in the room. What does that say about the people who are supposedly leading the world? IOW, they didn't just give him an "A+." No, they handed him a million dollars plus many millions more worth of publicity and praise.

We have a man in Congress who fears that Guam will flip over. He got reelected. 

We have an usurper in the WH who believes if you take money away from entreprenuers, it helps the economy. We have a Congress that has had ample reasons to toss the usurper out - hell there is a county sheriff that has examined forensic evidence and come to the conclusion that Obama has committed fraud more than once.

Yet not one Representative nor one Senator (535 people) will say a word about it.

Folks, we are kicking the can down the road because the public prefers liars, cheats and stupid people in charge. We have utter corruption in DC and on Wall Street. Meanwhile, DC has zero indictments of any Wall Street crooks.

Jesse James, Butch Cassidy and the rest of the Wild West thieves and killers must marvel at the crookery we live with now. 

Sat, 02/09/2013 - 14:45 | 3228931 over45
over45's picture

The problem is that many people believe him and agree with his position.  Just read some of the comments after the article at the WSJ.  Of course cuts in spending will reduce jobs - but no one wants to face the music because it's just sooo easy to print more.   Sick of his crap.

 

Sat, 02/09/2013 - 14:45 | 3228932 tarsubil
tarsubil's picture

If we stop drinking, we'll get the shakes and that will hurt our job performance. Gotta keep drinking. (Insanity is all too common.)

Sat, 02/09/2013 - 14:46 | 3228936 blindman
blindman's picture

cook the frog, kick the can.
.
http://www.potw.org/archive/potw283.html
.....
William Shakespeare (1564-1616)
from Macbeth

A dark Cave. In the middle, a Caldron boiling. Thunder.

Enter the three Witches.

1 WITCH. Thrice the brinded cat hath mew'd.
2 WITCH. Thrice and once, the hedge-pig whin'd.
3 WITCH. Harpier cries:—'tis time! 'tis time!
1 WITCH. Round about the caldron go;
In the poison'd entrails throw.—
Toad, that under cold stone,
Days and nights has thirty-one;
Swelter'd venom sleeping got,
Boil thou first i' the charmed pot!
ALL. Double, double toil and trouble;
Fire burn, and caldron bubble.
2 WITCH. Fillet of a fenny snake,
In the caldron boil and bake;
Eye of newt, and toe of frog,
Wool of bat, and tongue of dog,
Adder's fork, and blind-worm's sting,
Lizard's leg, and owlet's wing,—
For a charm of powerful trouble,
Like a hell-broth boil and bubble.
ALL. Double, double toil and trouble;
Fire burn, and caldron bubble.
3 WITCH. Scale of dragon; tooth of wolf;
Witches' mummy; maw and gulf
Of the ravin'd salt-sea shark;
Root of hemlock digg'd i the dark;
Liver of blaspheming Jew;
Gall of goat, and slips of yew
Sliver'd in the moon's eclipse;
Nose of Turk, and Tartar's lips;
Finger of birth-strangled babe
Ditch-deliver'd by a drab,—
Make the gruel thick and slab:
Add thereto a tiger's chaudron,
For the ingrediants of our caldron.
ALL. Double, double toil and trouble;
Fire burn, and caldron bubble.
2 WITCH. Cool it with a baboon's blood,
Then the charm is firm and good.

--------------------------------------------------------------------------------
brinded - having obscure dark streaks or flecks on gray
gulf - the throat
drab - prostitute
chaudron - entrails
The above appears at the beginning of Act IV, Scene 1 as found in:

Shakespeare, William. The Globe Illustrated Shakespeare: The Complete Works Annotated. Howard Staunton ed. New York: Gramercy Books, 1993.

Sat, 02/09/2013 - 14:56 | 3228968 hooligan2009
hooligan2009's picture

looks like Willy was an anti-semite, with his "Liver of blaspheming Jew;". perhaps it was specific and not general....hey look i kicked the can!

 

Sat, 02/09/2013 - 15:05 | 3228988 blindman
blindman's picture

willy must have been a home grown terrorist.
to think they actually required children read
his stuff back in the day.

Sat, 02/09/2013 - 23:51 | 3229830 Colonel Klink
Colonel Klink's picture

Most potent part is the tongue.

Sat, 02/09/2013 - 14:47 | 3228937 haskelslocal
haskelslocal's picture

So I suppose some of you prefer hidden agendas? First thing to admiting you have a problem is admiting you have a problem.  Hate the guy, but at least he said it.

The issue, as always, has been what makes money. What grows an economy.

If we decide war is no longer the answer, then we give it a replacement.

Sadly, when things are proposed like carbon credits, alternative energies, etc. All anyone does is rip these ideas apart as crap.

Maybe they are bad ideas, but are they worse than war? Maybe war is the best idea, hence, we stay the course.

But if you want to wind down spending you've got to transition to an economic model that has potential to better utilize all resources on the planet. Or don't and STFU.

 

Sat, 02/09/2013 - 14:53 | 3228961 tarsubil
tarsubil's picture

Saying deficits are the problem is like an alcoholic saying hangovers are the problem. No, the need to stay drunk all the time is the problem just as the need to create ever more debt is the problem.

Sat, 02/09/2013 - 14:59 | 3228973 Kelley
Kelley's picture

We already have an economic model that works when tried.

It's called entreprenurial capitalism.

Here are two true statements...

  1. Lower tax rates increase federal revenues and prosperity.
  2. Crushing debt increases poverty.

So let's increase revenues by lowering taxes and lower government spending. This will reduce the debt and increase jobs and prosperity.

Or we could do what Kruman suggests...

  1. Increase debt by spending and printing more money (this increases poverty by increasing inflation)
  2. Raise taxes (This lowers gvernment revenues therby increasing debt which increases poverty.)
Sat, 02/09/2013 - 15:01 | 3228975 ISEEIT
ISEEIT's picture

Your lesser of two evils approach is merely another way of kicking the can. Both choices are evil. The best option is to crash this fucking farce and start from scratch. Get the fucking rat parasite government out of our economy. This mess is due precisely to the failure to allow FAILURE.

War isn't going away anytime soon darlin'...In fact it's very credible to believe that the next big one will be waged against the sane people by the very sociopaths for whom krugman is an apologist/sycophant bitch.

Sat, 02/09/2013 - 15:03 | 3228980 hooligan2009
hooligan2009's picture

if you are correct and war is an acceptable economic policy tool, i hope its your family that is the first to suffer from collateral damage. 

Sat, 02/09/2013 - 15:38 | 3229048 Blankenstein
Blankenstein's picture

 

"Carbon credits  ...all anyone does is rip these ideas apart as crap.  Maybe they are bad ideas..."

 

So we should just green light bad ideas?   Carbon credits are just a money transfer to the .01%, but we should just go along because some elitel assholes proclaim that their idea wll help the environment but is really just another wealth transfer in disguise?   The extremely weathly will let companies pay them money to buy the credits and the cost will be passed on to the consumers aka the middle class and poor.  Seriously...

 

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